PETALING JAYA: Poh Kong Holdings Bhd ’s net profit for its second quarter ended Jan 31, 2019 rose to RM6.75mil from RM4.81mil in the previous corresponding period, mainly due to the overall uptrend in gold prices during the period.
Revenue in the second quarter increased to RM273.91mil from RM269.98mil a year earlier.
In a filing with Bursa Malaysia yesterday, the company said the increase in revenue was due mainly to the increasing demand for gold jewellery, aided by the higher retail gold prices in the current quarter under review.
For the six-months period ended Jan 31, 2019, Poh Kong’s net profit dropped to RM9.92mil from RM10.17mil in the previous corresponding period, while revenue grew to RM532.28mil from RM490.91mil a year earlier.
Commenting on its prospects, Poh Kong said it is optimistic that Malaysia’s economic growth will improve progressively with the government’s direction for the economy.